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people have a right to be very upset with this congress. >> reporter: president obama invited pelosi, john boehner and harry reid to the white house this afternoon for a fiscal cliff summit. >> here we are five days from the new year. and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the only way a bill could make its way through the procedural hurdles in time is if every senator agrees not to slow the progress. the senate will be
a bill through congress before january 1. >>> reporter: the "fiscal cliff" is still a few days away. but business owners don carlino says he is already feeling the impact. >> a lot of our customers are holding back. they are apprehensive. they are not committing to projects. they're not -- you know, they are waiting to see what's going to happen with the "fiscal cliff." >> reporter: and hope is fading that congress can get a deal done before tax hikes and spending cuts kick in january 1. >> i am not optimistic. >> reporter: even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a "fiscal cliff" summit. >> here we are five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise ho
cliff. >> reporter: and hope is fading that congress can get a deal done before tax hikes and spending cuts kick in january 1st. >> i am not optimistic. >> reporter: even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a fiscal cliff summit. >> here we are. five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the onlyway a bill could come through the you woulds in time is if every senator agrees not to slow the progress. the house will be back here sunday night giving them just more than 24 hours to vote on any bill the senate works out. outside the beltway, don will be watching. >> everybody's kind of in a wait and se
to be very upset with this congress. >> reporter: the fiscal cliff would bring massive tax increases and deep spending cuts. the treasury department would have trouble paying its bills. many economists worry the financial woes would plunge the u.s. back into a recession. just one possible effect of the fiscal cliff. milk prices could spike $2 or $3 a gallon, because farm programs will expire at the end of the year. some are calling that dairy cliff. live in new york, wendy gillette. >> wendy gillette in new york. thank you. >>> the country has lost one of its great warriors. tributes are pouring in this morning for retired general norman schwarzkopf. the general died yesterday in tampa after a battle with pneumonia. schwarzkopf commanded "operation desert storm" that drove iraqi forces from kuwait. in retirement, he championed causes. norman schwarzkopf was 78. >>> now, to former president george h.w. bush's condition. his chief of staff says he will be in the hospital for a while. the 41st president is recovering from a terrible case of bronchitis with a series of complications. she says tha
's not even clear if there's enough time to get a bill through congress before january 1. >>> reporter: the "fiscal cliff" is still a few days away. but business owners don carlino says he is already feeling the impact. >> a lot of our customers are holding back. they are apprehensive. they are not committing to projects. they're not --you know, they are waiting to see what's going to happen with the "fiscal cliff." >> reporter: and hope is fading that congress can get a deal done before tax hikes and spending cuts kick in january 1. >> i am not optimistic. >> reporter: even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a "fiscal cliff" summit. >> here we are five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chamber
truman congress called the do nothing congress passed 906. so they're extraordinarily productive compared to what we have now. >> reporter: yeah. >> talking about why in "the washington post" a couple of months and said never have we seen them this dysfunctional and criticize both parties and now acknowledge the core of the problem lies with the republican party. what do you think is going on with this truly do nothing congress? >> reporter: well, toure, one is tempted to be flip and say there's post offices that needing naming in the '50s and inflated the numbers and really essentially looking at the numbers the vast majority of those bills, the vast preponderance of those bills is sort of inconsequential bills. they have a special day reserved for post office namings and singing the praises of this day or that day or motherhood or apple pie and so, you know, it's sort of really hard to tell and it's fairly strong indication as if we needed that number to indication of how dysfunctional this congress is. here's somebody, a speaker in the background there saying speaker boehner arrived at
. >> the american people have a right to be very upset with this congress. >> reporter: the fiscal cliff would bring massive tax increases and deep spending cuts. treasury department would have trouble paying its bills. many worry the financial woes would plunge the u.s. back into a recession. within possible effect of the fiscal cliff/fro, -- milk prices could spike two or three dollars a gallon because farm -- some are calling that dairy cliff. >>> 6:17. mike here tracking light rain.i. l >> i'd like to. >> here's mike with the weather. >>> thank you, hope you are having a great friday morning dry sky over san francisco from the east to sutro tower. light rain showing up off the sonoma county coast,oo8Ñ let's zoom down and show you highway 1 from to inverness looks like it is raining but not reaching the ground. sprinkles possible during the as air mass start to moisten under this flow from the west. best chance of light rain around noon and later this afternoon. until then, chilly, dress for temperatures in the 30s everywhere, except fremont, 41, oakland if you are san francisco 44, monterey bay
says if the 112th congress can't figure out the fiscal cliff. >> it is avoidable. >> reporter: he's ready to bring some small town solutions to capitol hill. so you really think you can take the city politics to washington and it's going to work? >> it's about personal relationships, trust, working together for the people who elected you. >> reporter: he was a dublin city councilman and said he had to work with republicans in order to pass a city budget. he says it's the same kind of compromise strategy in washington. >> i'm confident there can be a buzzer beater where we can beat the clock and deliver. >> reporter: i asked him to give me one word to describe his feelings entering this fiscal cliff shark tank. >> exciting. >> reporter: you're excited? >> i'm excited. >> reporter: this is doomsday. >> but i'm confident that congress will see the will of the people. >> reporter: he says he's excited about making sure his supporters know he is ready to hit the pavement running. one supporter in particular. >> my own mom at christmas dinner told me do not raise my taxes. she is follow
on january 3. >> reporter: january 3 is the deadline for the new congress to start work. if a fiscal cliff fix isn't passed by then, the start of a new congress will likely delay matters even more. which is why the focus now is on reaching a nano-deal. >> the minimal that they can put together to avoid the fiscal cliff which will have sadly almost no impact on the long- term debt trajectory, but right now, neither markets nor the congress care about that. >> reporter: congress has never been terrific at long-range planning, but now the definition of long range seems to be 48 hours. >> you don't hear people talking, well a year from now, we really need to be here. you hear, well we need to do that this week. we need to do that day after tomorrow. this short-time frame horizon is new and i think people who think we are going to have tax reform and entitlement reform next year are way, way off base. >> cutting short his vacation but it's unclear whether he has the power to force a last minute solution through a deeply divided congress. >> darren gersh. >> so, joe, how bad could that be? >> i
debt trajectory, but right now, neither markets nor the congress care about that. >> reporter: congress has never been terrific at long-range planning, but now the definition of long range seems to be 48 hours. >> you don't hear people talking, well a year from now, we allyeed to be here. you hear, well we need to do that this week. we need to do that day after tomorrow. this short-time frame horizon is new and i think people who think we are going to have tax reform and entitlement reform next year are way, way off base. >> cutting short his vacation but it's unclear whether he has the power to force a last minute solution through a deeply divided congress. >> darren gersh. >> so, joe, how bad could that be? >> i had, susie. unfortunately, the economy has been gaining momentum, if you look at the labor market as well as housing making progress. but if we would see a fall from the fiscal cliff, it's not in our own estimates that those in the congressional budget office would be enough to impart a recession in the first half of 2013. i think still there's a 51% chance, if you ask me, tha
's face it. you're the freshman walking in. >> reporter: 31-year-old newly elected eric swalwell says if the 112th congress can't figure out the fiscal cliff, he's ready to bring some small town solutions to capitol hill. >> so you really think you can take the city of dublin politics to washington and it's gonna work? >> at the end of the day, it's about personal relationships, trust, working together for the people who elected you. >> reporter: swalwell was a dublin city councilman and said he had to work with republicans in other words to pass the city budget. he says it's the same kind of compromise strategy in washington. >> i'm confident there can still be a budget beater here where we can beat the clock and deliver on middle class tax cuts. >> reporter: i asked him to give me one word to describe his feelings enter this fiscal cliff shark tank. >> exciting. >> you're excited? >> i'm confident that congress will see the will of the people. >> reporter: he says he's excited about making sure his supporters know he is ready to hit the pavement running. one supporter in particular.
-the-board spending cuts take effect. >>> if president obama and congress fails to reach an agreement the price of milk could lead sharply. perhaps $6 per gallon. at issue is the farm bill and how much the federal government pays farmers. john blackstone reports. >> who wants milk? >> me. >> me. >> me. >> reporter: with four children the rasmussen family in california drinks about five gallons a week on milk. if congress doesn't pass the bill, i would cost him $106. that has dad sean rasmussen worried. >> they have to have their milk. we might have to cut elsewhere. >> reporter: without new legislation government prices revert back to 1939 levels. back then the process was more laborious and farmers needed a higher subsidy to cover their costs. dan sumner says the new price of milk would be far above what it now costs dairy farmers to produce it. >> it really will be chaos. >> reporter: so we would go back to this old farm bill which would force the government to buy milk at an extremely high price. >> that's right. >> reporter: this could be a windfall for dairy farmers. >> well, here's the pr
beat the clock and deliver on middle class tax cuts. >> reporter: i asked him to give me one word to describe his feelings entering this fiscal cliff shark tank. >> excitement. >> reporter: s this doomsday. >> but i'm confident -- this is doomsday. >> but i'm confident that congress will see the will of the people. >> reporter: he says he's excited about making sure his supporters know he is ready to hit the pavement running. one supporter in particular. >> my own mom at christmas dinner told me do not raise my taxes. she is following just like other americans what's going to happen with the fiscal cliff. >> reporter: representative elect swalwell says his new office in d.c. won't be much bigger, but the responsibilities monumental. his message? >> mom, i'm working for you. i'm receiving your text messages and i'm going to make sure that i stand up for you and the people who i grew up with. >> reporter: swalwell will be the second youngest member of congress when he's sworn in january 3rd. he leaves this sunday for washington d.c. to pick up his new keys to his office. in dubl
in the nation's capitol. let's get to danielle nottingham with details. >> reporter: top congress impressional leaders left the white house after a last-ditch fiscal cliff meeting with president obama. the closed-door meeting was an attempt to avoid the automatic tax hikes and spending cuts set to king at the start of the new year. >> we had a constructive meeting today. senator reid and senator mcconnell are discussing a potential agreement where we could get a bipartisan bill out. >> reporter: at the present time reminded lawmakers thers
before congress next month about the report on security failures and the september 11th attack in benghazi, libya, that killed four americans. >>> some good news on law enforcement, the number of police officers killed in 2012 fell by 23%. with just four days left until the end of the year, 127 state and local offices died as compared to 165 last year. >>> next, to the criminal world of dinosaur smugglers. a fossil dealer from florida admitted to sneaking stolen dinosaur bones to the u.s. and is facing up to 17 years in prison. the bones included a 70-year-old tyrannosaurus that sold at auction for more than $1 million. >>> and finally, from the cute file, we've been tracking the progress of this 5-month-old panda cub from the san diego zoo. who now tips the scales at 15.4 pounds. and zookeepers say he's growing normally. he's got a big plastic ring and chewing on bamboo. glad to see he's doing well. >>> over to wall street for a check on your friday morning markets. the dow lost 18 on thursday closing at 13,096. the s&p was down a point and the nasdaq lost 4. overseas fared sl
the soonest a deal may come could wind up being january 3rd when the new congress takes over. reporting live in washington, i'm danielle lee. >> thank you, danielle. >>> millions of americans may watch the ball drop in times square, but a group of democrats is organizing its own ball drop on capitol hill. they will launch their countdown today. they say their ball represents republicans dropping the ball on middle class families should lawmakers fail to reach a deal to avoid the fiscal cliff. >>> going over the fiscal cliff could have a huge impact on the local economy. thousands of people can lose their jobs, especially federal employees and government contractors. the defense industry could face billions of dollars in cuts. >> the third largest number of federal employees and probably the largest single number of federal contractors. so that federal nexus is really important to our economy. we need to end the uncertainty. >> economists say it's possible for us to "step over" the cliff. that means lawmakers will reach some kind of a deal in a few weeks after the new year begins. >>> breakin
, kyla campbell joins us live from dc. >> reporter: tara, some members of congress hope this meeting will produce a deal but others say the situation is hopeless and this meeting is just for show. we are taking a live look outside the white house, still not sure whether we are going to get video from the high stakes negotiations, harry reid and mitch mcconnell and john boehner and nancy pelosi are joining president obama and the vice-president. the white house insists the president is not putting new offers on the table but there are reports of a compromise to raise tax rates for them. both sides say thar are disappointed. >> it is totally a lack of courage to deal with these issues. from washington to wall street there is a sense of gloom but the prospects of deal. here in dc a new furlough warning went out to federal workers, deep spending cuts and tax hikes go into effect for every 1 on new year's eve if congress doesn't take action. kyla campbell, ktvu channel 2 news. >> thanks, if the president and congress are not able to avoid the fiscal cliff experts say people here in califo
to something this week. >> reporter: analysts say congress may miss its own deadline, and that could tee up a january fix, but damage may be unavoidable. >> when push comes to shove, they will find a way to bridge their differences. and it may not be pretty, but it will get done. it may get done in such a chaotic fashion that the economy will pay a price. >> reporter: so we hear from more democrats and republicans this sort of acceptance they might slip past that january 1st deadline and keep working on this. at the same time, both sides said they want to get a deal, and they know there's a lot of pressure from their constituents, from the larger political environment to do something. will this afternoon's meeting have an impact? too soon to say, but it's a step that's intended to show they're working at it. willie. >> kelly o'donnell on capitol hill. thank you. we're joined now by republican senator john thune of south dakota and democratic senator chuck schumer of new york. gentlemen, good morning. by my count, we're less than 90 hours away now from the new year's eve deadline. senator th
affecting the economy. today, a closely watched business group reported consumer confidence has declined for a second straight month, a sign americans may continue to hold back on spending. consumers won't like what they see at the supermarket if congress doesn't pass a new farm bill by january 1. milk prices could double to $7 a gallon or higher. john blackstone tonight explains why. >> who wants milk? >> me! >> reporter: with four children, the rasmussen family of los angeles drinks about five gallons of milk a week. if congress fails to pass a farm bill, they may end up spending an extra $120 a month on milk. that has dad sean rasmussen worried. >> we will not cut back on milk. they have to have their milk. we might have to cut elsewhere. >> reporter: without new legislation, government price supports for milk will revert to 1949 levels. back then, the process was more laborious, and farmers needed a higher subsidy to cover their costs. dan summer, professor of agricultural economics at the university of california davis, says the new price of milk will be far above what it now costs
. >>reporter: if congress fails to avoid the fiscal cliff the financial consequences are significant. now there's a computer program that will figure specifically what each of us can expect next year. tax policy center fiscal cliff calculator peck your category married single with or without children enter the income and press to, it will pop up but you have to cough up next year. >> 17,000 dollars higher. that's a lot. >>reporter: jason is an engineer from cupertino with wife and 3 kid. he's looking at extra 17,000 in change. renee of carson just calculated what her family will pay. >> my god. that's another additional, i mean, deduction. >>reporter: 4 dollars short of 3000 dollars. >> i know. i know. >>reporter: she says it's like losing a month salary for her or her husband. pretty significant reduction. >> oh, yes. yes. it's a big one. >>reporter: here's other quick calculations. single person making 46,000 can count on increase of 1300. married with no children income of 57,000 it's an extra 2200 you will be paying. married with two kids and income of 146,000, 7300 more.
in washington this weekend. >> reporter: the president declared himself modestly optimistic congress could still reach an agreement to head off huge tax hikes on january first, but he also warned lawmakers to get their work done. >> the american people are not going to have patience with a self-inflicted wound on the economy. >> reporter: senate republican leader mitch mcconnell called the white house meeting a good one and he told his fellow republicans he hoped to have a fiscal cliff recommendation soon. >> we will be working hard to see if we can get there in next 24 hours and so i am hopeful and optimistic. >> reporter: but the sticking point remains finding something that can make it through the house with enough support from republicans. >> it seems like the 250 threshold that the president proposed previously is unlikely to pass the house in its current form, and so without some sort of additional compromise there, it seems unlikely that we're going to get something done before the end of the year. >> susie: you know thanks for that report. i am just wondering from all of the reporting yo
with congressional leaders this afternoon. white house is denying reports to send a scaled back plan to congress. a deal at this point would probably extend bush era tax cuts for most americans and raise taxes on the country's top earners. it could also include an extension of long-term unemployment benefits, spending cuts would also be postponed. house speaker john boehner will be at the meeting today. the house will convene for a rare sunday evening session. house majority leader eric cantor says the house could be in session until january 2nd, the day before the new congress is sworn in. boehner, meanwhile, maintains that it's up to the senate to act first. >>> millions of americans may watch the ball drop new year's eve in times square, but a group of democrats is organizing its own ball drop on capitol hill. they'll launch their countdown today. their ball represents republicans dropping the ball on middle class families should lawmakers fail to reach a deal to avoid the fiscal cliff. >>> new this morning, iran's state television is reporting the country's navy started training drills in th
. >> i'm urging congress to take action, stop playing games, and let's move on. >> reporter: frustration has boiled over for bob packer, a small business owner. >> i'm disappointed and angry. if they were my representeddives, i'd certainly vote them out of office. >> on tie mitchell of brokering a deal is waning. >> we do have a chance, an outside chance to get this done. >> we need two words. presidential leadership, on not just taxing rich people. >> reporter: some democratic lawmakers are calling on the house speaker to call house republicans back to work. >> bring the house back now. show up to work. >> reporter: the speaker has ordered republicans back on sunday but democrats want them to return sooner. both sides are blaming each other for the lack of compromise. democrats say house speaker is boehner is holding all the cards. >> the speaker of the house has got to allow a vote. he has got to allow the full house to work their will and get it done. so far he has been unwilling to do that. >> reporter: in the final hours and days before the end of the year, bob packer knows this tim
and is said to have a new proposal to offer congress, sparking a rally that left the dow down just 19 points. reports are swirling apple is moving production of its mac mini computers to foxconn plants in the u.s. apple may also be working on a smart watch. and, the new york stock exchange landed the most ipo for 2012. larry levin of trading advantage joins us now. larry, it feels like we are already hanging off that cliff. > > it definitely feels that way. everybody is obviously watching for some kind of news out of washington. that is what has moved the market every day for the past couple of weeks. it will be no different today. so i absolutely agree with you. > should investors be concerned about the move in the volatility index yesterday? > > it was interesting to see that, and it is really something that at least active investors watch on a regular basis, so any time the vix moves, i think it is something to watch. > what do you anticipate for the friday trade? > > i certainly think that we will see more lower prices in the market. the s&ps last week went below 1400, this past week. we
of milk pretty hard. we'll tell you about it when we come back. >>> congress is facing another big deadline that could impact what you pay for something on just about everyone's grocery lift. >> we have more on what is being dubbed the milk cliff. >> reporter: cows on the cliff or at least their milk while all eyes are fixed on the fiscal cliff. there is another deadline quickly approaching, the milk cliff. it is part of a stalled farm bill with as much as $35 billion in cuts. if the bill doesn't make it through congress before the end of the year, the government will be forced to buy vast quantities of milk under a truman era law that could send consumer milk has high as $6 to $8 a gallon because the government would be forced to pay twice the rate under the 1949 rules. fomples are would sell their milk to the government first prompting a shortage in supplies which would spike the price consumers pay. >> the farm bill is like this low hanging ornament on the congressional christmas tree that, if they just embrace, it they can automatically come up with tens of billions ever dollar
to congress. >> to really solve the 16 trillion dollar national debt, you have to sacrifice. >> reporter: politicians talk about kicking the can down the road. one american has decided that road has to end. and it might as well be here. c. n, san antonio -- cnn, san and he toneo texas. >> -- san antonio texas. >> i think it's great if you feel like tough could something, go ahead and do it. >> he is doing something instead of complaining about it. >> exactly. >>> stay with us this morning. we will find ways to keep warm when temperatures dip and it turns out. [audio not understandable] >> how zoo keepers helped to keep the animals warm and the treats they enjoyed. >> and she spans 3 feet and weighs 170 pound and the new tightel this great dane holds and her owner says it's a honor. 170 pound. >> the owner was wearing matching colors. watch. let's say you want to get ahead in your career. how do you get from here... to here? at university of phoenix we're moving career planning forward so you can start figuring that out sooner. ln fact, by thinking about where want your education to lead,
to the capital without a deal. nancy pelosi insists some progress was made. disgorge by reports the would not be a deal todaythe dow closed down. the president did not make any new offers. congress should least extend tax cuts for everyone making $250,000 or less, and extend long-term unemployment benefits. democrats said have enough votes in the house and senate to pass the president also version of a short-term plan, but it is up to republicans in the house to call a vote. >> in the case of the speaker, i don't refuse to hold a vote per one of the key players, chris van halle, ranking democrat and house budget committee says he understands the public frustration -- hollen, ranking democrat and house budget committee, says he understands the public frustration. today the house speaker said he will not call for any votes until the senate has voted. possible new year's eve a vote on monday. mitch mcconnell went to the senate floor and said his hopeful and optimistic. those are two words we have not heard much of in the past couple of weeks. everyone hoping there will be a deal before janu
, danielle? >> reporter: derek, we're just not sure what happened. all four leaders left the white house without speaking to the media. we can only assume that means this wasn't a productive meeting. top congress impressional leaders left the white house after a last-ditch fiscal k cliff meeting with president obama. the closed door meeting was an attempt to avoid the automatic tax headaches and spending cuts set to king at the start of the new year. with just three days to go republicans and democrats are still blaming each other. >> i want to thank all of you for being here to call upon the republicans not to drop the ball on the middle class. >> reporter: there was a new year's eve style rally saying the fiscal cliff ball is in the republicans court. >> it's republicans who are holding hostage the middle class in america so that the wealthy don't have to pay their fair share. >> we need two words. presidential leadership, while not just taxing rich people. >> reporter: tennessee republicans lamar alexander and bob corker said the president has to take the lead. corker was not optimist
. >> everybody's kind of in a wait and see and finger crossed perspective right now. >> reporter: since 1930, this is only the fifth time congress has worked after christmas. tara mergener for cbs news, washington. >> now this afternoon's white house meeting is the first time the president and all four leaders of the house and senate will meet face-to-face since november 16th. >>> a horrific smashup on the springfield interchange leaves three people dead. it happened around 7:00 last night. the i 495 flyover ramp to i-95 was blocked for most of the night as police cleared the scene. police tell us that a semitrailer was shopped in traffic when it was rear ended by a pickup truck. all three people inside that pickup died at the scene. the semi driver was not injured. >>> geneticists are studying the dna of adam lanza. he shot his mom and killed 26 people in newtown before taking his own life. the connecticut health center was asked to join the investigation to look for threws about the roots of his -- clues about the roots of his violence in his dna. >>> you can gamble 24 hours a day, 7 days
on christmas day his mother didn't recognize him. >> reporter: topping america's money the dairy cliff starting new year's day the price of mill could be double if congress doesn't pass a new farm bill w no deal in 1949 law kicks in that would force the government to pay dairy farmers much higher prices for milk. sales of new homes jumped 4.4% to the fastest pace in 2 1/2 years. new home sales are up more than 15% over the past year. ford will spend more than 3/4 of a billion dollars to expand a half dozen plants in michigan reit -- creating more than 2300 jobs part of the promise to invest 6.2 billion dollar in the u.s. plants and create 12,000 jobs by 2015. and the biggest movie flop of 2012 is cop horror film play back grossing 264 dollars meaning about 2 dozen people bought tickets. and that's america's money i am brandi hitt. >>> you're watching the station that works for you, now, good morning maryland. >> it's getting cold outside. the first hypothermia related death has been confirmed in maryland. find out how you can stay safe during the wintery season. >> we are worried and talking ab
know that you are going to regroup. gerri willis and "the willis report" will stop where we leave off. gerri willis is up next to explain all this for you. have a great weekend, everybody. gerri: hello, everybody, president obama calling on congress just moments ago asking to avoid the fiscal cliff. he said he is moderately optimistic that a deal could be done by december 31. congressional leaders are working on crafting a bill. certainly no grand bargain here that would improve entitlements. if they can't get a deal, the president has told harry reid to put the white house proposals up for an up or down vote. the details just keep on coming out. with us now are two guests. first, we are going to go rich edson. he is here with the very latest. tell us what you made of the president's comments. he was very direct. reporter: he was. and now he passes on to the senate. senate majority leader harry reid, senate minority leader mitch mcconnell. they are trying to come up with something that can pass the house and the senate. the president laid out a proposal earlier this evening. at the be
. the crash involved real for cars and were reported just after midnight. >> president obama in congress are looking to keep automatic spending freezes from kicking in a pain has the stor\ed paine has the story >> nancy pelosi, which mcconnell, and john boe hner have four days to reach agreement or spending cuts would take effect. >> both sides are involved in a high-stakes political blame game. >> we are here in washington working. the members of house of represented or out watching movies, and watching the kids play soccer, basketball, and doing all kinds of things. they should be here. >> i told president i will be happy to look at what ever he proposes. a hard deadline. as i said this is the conversation we should of had to go. >> democrats want to extend the bush era tax cuts to everyone except those americans making $250,000 or more per year. republicans remain against any tax increases. >> most americans just wasn't begun. >> people are tired. >> islamic not reach a deal by january 1st many economists are concerned it could lead to another recession. >> ibm ed paine reporting. >>
%. >>> president is meeting today with con impressional leaders at the white house. kyla, good morning. >> reporter: president obama is rounding up the top four leaders in congress to meet at the white house. senate leaders harry reid and mitch mcconnell will be at that meeting scheduled for about seven hours from now. this could be their last chance to find terms they can all agree to. the president and senate got back to work yesterday. the house of representatives just got the call to return sunday night. a vote has been taken by monday or else automatic income tax increase will kick in on tuesday. republican aid say their leaders might now get on board with that. even so there is economic proof that many americans still fear going over the fiscal cliff. i'll have more on that in my next update. live in washington kyla campbell ktvu channel 2 news. >>> analysts say if the country goes over the fiscal shift it could send the economy back if into a recession. >>> secretary of state hillary clinton is expected to return to work next week. a specksman for clinton says she continues to recooperate at
of congress. this is "democracy now!" back in a moment. ♪ [music break] >> she died wednesday at the age of 72 after complications from heart attack. this is "democracy now!," democracynow.org, the war and peace report. i'm amy goodman with juan gonzalez. >> while the so-called fiscal cliff has dominated the news headlines, the senate is preparing to vote today to continue a controversial domestic surveillance program. in a blow to civil liberties advocate, the senate rejected three attempts thursday to add oversight and privacy safeguards to the foreign intelligence surveillance act. >> dennis kucinich is still with us, outgoing democratic congress member. this will be his last week in congress -- at least for this term of his political life. congressmember kucinich, the issue of fisa. what is this bill and what does it mean? >> what it reflects is a breakdown in trust in this country. the attempt is to give the government even more powers to spy. that is really being translated into domestic "intelligence." even though it is called the foreign intelligence bill. we have to ask questions. why
. cbs reporter danielle nottingham is in washington and danielle, how's it looking? >> reporter: well, elizabeth, there was not a lot of optimism on capitol hill today. both senate leaders admitting that congress is facing a hard deadline while at the same time, blaming each other for not having a deal in place by now. president obama cut short his holiday vacation and returned to the white house to work on a deal to avoid the "fiscal cliff." before flying home from hawaii, the president called congressional leaders nancy pelosi, john boehner, mitch mcconnell and harry reid to reach agreements before tax hikes and spending cuts kick in january 1. >> we have been asking the president and the democrats to work with us on a bipartisan agreement for months. >> i don't know time wise how it can happen now. >> reporter: the senate majority leader wants house republicans to return from their vacations to approve a democratic senate plan that extends tax cuts for families making less than $250,000 a year. >> that's the only option that is viable escape route. >> reporter: but republican leade
. the perez -- so-called fiscal cliff. the president is expected to meet with leaders tomorrow and congress will conseen a special sunday -- convene a special sunday session. ktvu's consumer editor tom vacar is here with a look at the building angwer washington, especially -- anger with washington especially among californians. >> reporter: it could bring another recession and higher unemployment. >> reporter: californians voted for prop 30. every californian will pay a quarter percent higher sales. the fiscal cliff will hit all americans with higher taxes. and that could lead to a u.s. economic down turn. and that could derail many of the benefit prop 30 could have meant for the state. >> i don't know if there is a word to describe how mad the public will be. nobody will be happy to see that happen. >> if taxes go up it is not going to be a happy time. i think that is what is going to happen. >> reporter: the lowest income folks will see their pay shrink by 3.5%. average earners 4%. top earners 6%. that says nothing about other unknowns. >> we will be very angry. it will hit the people --
here? >> reporter: yes, gregg. russia is furious about a u.s. law which puts visa bans and asset freezes on 60 russians that congress believes were involved in some way or complicit in the deaths of a russian lawyer in jail in 2009. now he was investigating a massive fraud case at the request of a u.s. company in russia that believed millions of dollars it paid to the russian government in tax money were diverted, stolen by russians with connections to the government. he was 30 self -- 37 years old when he died and the allegations are that at best he was denied medical treatment while in jail. at worse he was tortured. russia has been very defiant in this case and trying him posthumously for fraud. the russian government passed this ban, what appears to be retaliatory law prohibiting americans from adopting russian orphans, naming the law after a 2-year-old boy who died while in the custody of u.s. adopted parents a few years ago. gregg? gregg: amy, are there repercussions here? >> reporter: there certainly are. even though this law was passed pretty much unanimously in russia's
's not terribly encouraging. the president as you reported is flying back to washington last night and some members of congress are coming back earlier than others. there will be some meetings here, there have to be some meetings between the principals and the president. there are a couple of options in the last couple of days even though it seems like five days is terribly, terribly short. there shall bills floating out there to keep tax rates where they're at for people making $250,000 and below. that could slide around. there's a senate bill that floats around. there's the president's offer which could still be amended. option 3, of course. is to go over the cliff and fight this out on january 1. >> warner: are there any meaningful back-channel negotiations going on? >> leadership aides on both sides say the channels have been open even during the christmas break. when the president called senator mcconnell and others last night, senator mcconnell made clear to say that's the first time he's talked to a democrat since thanksgiving. now that sounds like they haven't been talking at all bu
a look at this. consumer confidence has now hit the lowest level since august. according to a report from the conference board. so new year's eve is usually one time when everyone can cheer together. let's be real. if congress drops the ball before the ball drops this year, americans will have yet another reason to feel divided and frustrated with their leaders. we had the election and holidays. now the question is whether congress will make a new year's resolution to actually get things done. we have a great panel assembled here. i want to start with you, maggie. no one is dash optimistic. senators have to say that as opposed to admitting things don't look good as we just reported there are indications from at least a pew gop sources that there is this deal on the table. 400,000 at the tax level would not be very favorable to the president's so-called final offer. what do you make of it? >> i think that -- i make of it we are hitting hard deadline and i think all sides are aware this will be problematic for everybody. i think you can make the argument it will be worse for republicans lon
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